Thursday, October 29, 2015

GOP Debate: Chris Christie Tells It Like It Is on Social Security

During last night's Republican debate, one of the highlights was Chris Christie's comments on Social Security:

I mean, let me be honest with the people who are watching at home. The government has lied to you and they have stolen from you. They told you that your Social Security money is in a trust fund. All that's in that trust fund is a pile of IOUs for money they spent on something else a long time ago.

And they've stolen from you because now they know they cannot pay these benefits and Social Security is going to be insolvent in seven to eight years. We're sitting up here talking about all these other things; 71 percent of federal spending today is on entitlements, and debt service. And, that's with zero percent interest rates.

And Huckabee was a lunatic. Basically, his position was "no matter what, and no matter how much money you make in retirement, the government owes you SS, so you have to get your SS." He offered no solution (especially the obvious one of "we'll have to raise your taxes dramatically") on how it could happen. Apparently, it's "pray the pay away."

From what I've read, Social Security will not be able to fully pay between 14 and 19 years from now, and then will only have enough to pay roughly 73% of promised benefits from then on for the next generation. That's the best case scenario, because it's not like any fiscal responsibility is coming to Washington any time soon.

I believe they'll unleash the money spigots instead. So, everyone will get what they were promised. The question then becomes: what will that money buy?

The government wasn't the only one that lied. Chris Christie lied and so did the entire mainstream media and they all continue to lie. They lied , they continue to lie, and they will keep on lying.Until there is some truth, none of this matters at all.